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457 Plans-required deposit date by employer?


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IRS Notice 98-8 (dealing with governmental 457 plans):

"In order to satisfy the requirement that all plan assets and income be held in trust, amounts deferred under a governmental section 457(B) plan after a trust has been established must be transferred to the trust within a period that is not longer than is reasonable for the proper administration of the accounts of participants. For purposes of this requirement, a governmental section 457(B) plan may provide for amounts deferred for a participant under the plan to be transferred to the trust within a specified period after the date the amounts would otherwise have been paid to the participant. For example, a governmental section 457(B) plan could provide for amounts deferred under the plan to be contributed to the trust within 15 business days following the month in which these amounts would otherwise have been paid to the participant."

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